On Records You evening Wong Kim's waren View Options 2 49 2011 2010 19 59 Acrobat ? Times - ni -3.0. - $ .%. 2 A 14-09 X B c D PS.1A Winters Hardware Store completed the following merchandising transactions in the mouth of May. At the beginning of May. Winters' ledger showed Cash of $8.000 and Common Stock of $8.000 May 1 Purchased merchandise on account from Black Wholesale Supply for $8.000 terms 1/10, 1/30. 2 Sold merchandise on account for $4,400, terms 2/10, 1/30. The cost of the merchandise sold was $3,300 5 Received credit from Black Wholesale Supply for merchandise returned $200. 9 Received collections in full, les discounts, from customers billed on May 2. 10 Paid Black Wholesale Supply in full, less discount 11 Purchased supplies for cash $900. 12 Purchased merchandise for cash 53.100. 15 Received $230 refund for return of poor quality merchandise from supplier on cash purchase 0 17 Purchased merchandise on account from Wilhelm Distributors for $2.500 terms 2/10, 1/30 19 Paid freight on May 17 purchase $250 2 24 Sold merchandise for cash $5.500. The cost of the merchandise sold was $1.100 13 25 Purchased merchandise on account from Clasps Ine, for $800, terms 3/10.30. 14 21 Paid Wilhelm Distributors in full less discount 15 29 Made refunds to cash customers for returned merchandise S124. The related merchandise had cost $90 16 31 Sold merchandise on account for $1.280, terms 30. The cost of the merchandise sold was R30. 1R Instructions 19 a. Journalize the transactions using a perpetual inventory system 20 b. Post the transactions to T-accounts. Be sure to enter the beginning cash and common stock balances 21 c. Prepare an income statement through gross profit for the mouth of May 2022 Start Video Participants Share Record 10 $ & 2 3 5 6 7. 8 9 0 E R . Y